The default of sovereign debt is a clarifying moment because it is a moment of truth.

It exposes the delusions, frauds and deceits of corrupt, greedy and vain rulers. It can be a moment of liberation ,if the rulers fall or reform themselves and begin to reallocate resources more productively and equitably and focus on genuine wealth creation rather than gratuitous consumption. It can also be a moment of accelerated enslavement when entrenched rulers preserve their power and luxury by further oppressing the common people, economically and politically.

It is too soon to tell whether the rulers of Dubai will admit and be changed by the truth or deny and perpetuate their lies and diseased fantasies. If the latter, then there will be a second moment of truth and it will a violent and bloody one. It is Dubai’s good fortune that it does not have a fiat currency and must accept the judgment of the global financial market and, if it wishes to retain global economic connectivity, also bow before the discipline of the global market.

It is now a profound misfortune for ordinary Americans that the US Regime has a fiat currency: the dollar is now the biggest economic lie in the world because the US Regime is the greatest financial fraud in the world. The fiat dollar has delayed by years America’s own moment of economic truth….but it too will come.
Truth and reality are more sovereign than any Regime and more sovereign than the false debt of any Regime.

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Related Posts:

• The USA should return to the US CONSTITUTION Article I Sections 8 & 10 -
• The dollar is a claim on the wealth producing capacity of America.
• The dollar has been eroding with every expansion of private or Federal Debt.
• This was an article from the St. Petersburg Times Newspaper on Sunday:
• The Fed must be audited, now.

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